Swiss Re shareholders re-elected Sergio Ermotti as chair, the company said on Wednesday, despite a recommendation by proxy adviser Institutional Shareholder Services (ISS) to vote against him over a lack of gender diversity.
Ermotti won 79% of the vote in the election at the reinsurer’s annual general meeting, less than the 96% he won at last year’s meeting.
ISS recommended shareholders oppose the reappointment of Ermotti as a “signal of concern” over the lack of gender diversity on the reinsurer’s board.
Ermotti told shareholders in a webcast that “abilities and experience” are also important in addition to diversity and that ISS was trying to make headlines with its stance.
(Reporting by Tom Sims and Paul Arnold; editing by Riham Alkousaa and Maria Sheahan)
Was this article valuable?
Here are more articles you may enjoy.
State Farm Sued Over Policies Backed by Distressed Insurer PHL 
Chubb, The Hartford, Liberty and Travelers Team Up on Surety Tech Launch 
Trump to Issue Order Creating National AI Rule 
US E&S Outlook No Longer Positive: AM Best 
